(30 OCTOBER 2017)GBP / USD:Pushing lower.

(30 OCTOBER 2017)GBP / USD:Pushing lower.

30 October 2017, 12:33
Jiming Huang


Pushing lower.

(By Yann Quelenn )

• GBP/USD has successfully broken support at

1.3088 (12/10/2017 low). Resistance lies at

(1.3229 reaction high) bouncing towards 1.3027

support. Expected to show further weakness,

• The long-term technical pattern is reversing.

The Brexit vote had paved the way for further

decline. Long-term support can be found at

1.1841 (07/10/2017 low). Long-term resistance

given around 1.35 is at stake and indicates a

long-term reversal in the negative trend. Yet, it is

very unlikely at the moment.

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